Istanbul-Sana
The value of the Turkish lira fell again, reaching its lowest level ever today, after data showed that annual inflation remained near 12 percent and firmly exceeded the central bank's expectations during the past month.
Reuters reported that the pound has decreased to reach 7,438 against the dollar, which keeps import prices high and dispels the impact of any downward price pressures resulting from the general isolation measures imposed earlier this year in light of the spread of the Corona virus.
The Turkish currency has fallen about 20 percent since the beginning of this year, which led to an increase in inflation through imports and a high current account deficit.
The Turkish currency continues to deteriorate due to the deteriorating political and security conditions in the country due to the policies of Recep Tayyip Erdogan's regime and its repressive measures, which led to a decline in tourism and investments and a decrease in the country's foreign exchange earnings.